SOURCE: IO Circuit

November 23, 2011 07:30 ET

TurkPower Corp. Announces Merger With Producing Mining Company

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO CIRCUIT

NEW YORK, NY--(Marketwire - Nov 23, 2011) - TurkPower Corp. (OTCBB: TRKP) has announced that they have entered into a binding term sheet with ACM Corp, a privately held mining company with two high-grade manganese mining operations in West Africa.

In a global report issued in February 2011 titled Manganese: A Global Strategic Business Report it states that the driving factor behind the market's growth will be by end-use sectors like steel manufacturing and batteries in developing Asia-Pacific, Latin America and Middle East markets. The total Manganese market is expected to exceed 21.9 million metric tons by 2015 led by companies like Vale S.A. (NYSE: VALE), BHP Billiton (NYSE: BHP), Assmang Ltd, Eramet S.A. (PINKSHEETS: ERMAY), Carus Corp. and others.

Manganese is essential to iron and steel production by virtue of its sulfur-fixing. World Steel Association forecasts that apparent steel use will increase by 6.5% to 1,398 million metric tons in 2011. In 2012, it is forecast that world steel demand will grow further by 5.4%.

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